June 6, 2018
Home Loan Document Checklist

Getting a Home Loan is easy these days. As long as you have the necessary documents with you, your Home Loan will get approved and disbursed without any complications. Here is a comprehensive checklist of documents that banks and financial companies require for sanctioning a Home Loan. It’s a fairly lengthy read but so, so important!

Read this. Become very knowledgeable. Buy a home. Simple!

Tip: Check with your Bank or Non-Banking Financial Company to figure out which of the following documents you need to submit, as requirements differ from institution to institution.

The Long List Begins!

The documents mentioned below must be provided when applying for a Home Loan:

Identity proof

— Driving license
— Voter ID
— Passport
— PAN card
— Aadhaar Card
— NREGA Card

Address proof

– Driving license
– Voter ID
– Passport
– Ration card
– Utility bill – telephone, electricity, water, gas, postpaid mobile (less than 2 months old)
– Letter from any recognized Government authority verifying the residence address of the customer
– Letter from your employer (in case no other proof is available)
– Bank Statements/Pass book/ other Government documents such as post office pass book
– Property or Municipal tax receipt
– Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address
– Documents issued by Government departments of foreign jurisdictions and letter issued by Foreign Embassy or Mission in India

Age proof
– Driving license
– Passport
– PAN card
– Birth certificate
– 10th standard mark sheet

Income proof
Income proof and property proof vary for a salaried individuals and a self-employed individuals.

Self Employed/Businessmen
– A brief introduction of your business/profession
– Balance sheet, profit and loss account statement of income, proof of income tax returns for the last 3 years certified by a CA
– Receipts of advance tax payments made (if any)
– A photocopy of Registration Certificate of establishment under Shops and Establishments Act/Factories Act
– Certificate of Practice for professionals such as doctors
– Proof of investments (FD Certificates, Shares, any other fixed asset)

Salaried individuals
– Form 16
– Increment/Promotion letters
– Appointment letter
– Payslip (Last 3 months) with salary account bank statement
– IT returns (for the last three years)
– Investment proof (FD certificates, shares, any fixed asset)
– Documents supporting the financial background of the borrower (liabilities and assets if any)